by Krystal Paco
Guam - The Department of Education may be in the clear when it comes to finances for 2011, but things don't look so good for 2012. At today's Education Financial Supervisory Commission meeting, DOE was given an "A" rating for fiscal year 2011.
Public Auditor Doris Flores Brooks notes that despite the hiccups from month-to-month, DOE didn't overspend, which resulted in the positive rating. "There's an 'A' watch, which is stable; 'B', which is warning and 'C' is action," Brooks explained. "The Administration held a 3% reserve and in order for it to get out of 'C' watch they had to release the reserve. But as I mentioned at the end of the fiscal year, DOE expended within its appropriation and did not overexpend, and for us that's the bottom line, which is good news."
The bad news, however, is that students were deprived of critical supplies like textbooks. The interim superintendent meanwhile is worried that with the New Year, DOE will run out of money to meet payroll by June.